Kennedy steps down after a decade on £800m Scottish trust

clock

John Kennedy has stepped down from managing the £821m Scottish investment trust after ten years at the helm.

Assistant manager Alasdair McKinnon will take over the running of the trust on an interim basis while a replacement is sought, while Kennedy will be employed as a consultant for a short period of time as his responsibilities are transferred. In a statement, the board of directors thanked Kennedy for his "substantial contribution over the period and wish him well for the future". The trust is unusual in not employing an external manager to run the portfolio, a fact that hinders it when compared to other peers in the global growth sector, according to analysts at Numis. "In our view,...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot